Bridgewater Associates LP Lowers Holdings in Zoetis Inc. (NYSE:ZTS)

Bridgewater Associates LP trimmed its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 37.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,789 shares of the company's stock after selling 30,926 shares during the period. Bridgewater Associates LP's holdings in Zoetis were worth $10,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Darwin Wealth Management LLC acquired a new stake in Zoetis in the 3rd quarter valued at about $31,000. First Personal Financial Services acquired a new stake in shares of Zoetis in the third quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new position in Zoetis during the third quarter worth approximately $33,000. Quarry LP boosted its stake in Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company's stock worth $36,000 after buying an additional 153 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Zoetis in the 1st quarter valued at $43,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZTS has been the topic of several analyst reports. Piper Sandler lifted their price target on Zoetis from $195.00 to $210.00 and gave the stock an "overweight" rating in a report on Wednesday, August 14th. Stifel Nicolaus boosted their target price on shares of Zoetis from $200.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Argus upgraded shares of Zoetis to a "strong-buy" rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Zoetis from $225.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Finally, BTIG Research raised their price objective on Zoetis from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $221.44.

Zoetis Stock Down 0.8 %

ZTS traded down $1.49 during trading hours on Friday, hitting $175.25. 1,543,442 shares of the company's stock were exchanged, compared to its average volume of 2,545,743. The firm has a market cap of $79.07 billion, a P/E ratio of 33.22, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $184.18 and a 200 day moving average of $180.78.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the business earned $1.36 EPS. Zoetis's revenue was up 11.6% on a year-over-year basis. Analysts predict that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis's dividend payout ratio is presently 32.52%.

About Zoetis

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.